Found 2 article(s) for author 'real estate markets'

Knowledge integrators and the survival of manufacturing clusters

Knowledge integrators and the survival of manufacturing clusters. Gary Pisano, June 26, 2018, Paper, “Over the past two decades, the greater prevalence of global supply chains has had contrasting effects on Western manufacturing clusters. While some of them dwindled, others proved resilient. Contributing to the recent literature on co-located clusters and clusters’ linkages, we focus on the impact of lead firms’ strategies on the competitiveness of a pair of ‘twin’ clusters located in Northeast Italy. Our findings suggest that production remains ‘sticky’ when leading firms pursue ‘process-embedded’ innovation by integrating global market and local technical knowledge. We refer to this type of firm as a Knowledge Integrator and discuss how its strategy supports the competitiveness of localized suppliers.Link

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A Real Estate Boom with Chinese Characteristics

A Real Estate Boom with Chinese Characteristics. Edward Glaeser, Andrei Shleifer, October 2016, Paper, “Chinese housing prices rose by over 10 percent per year in real terms between 2003 and 2014, and are now between two and ten times higher than the construction cost of apartments. At the same time, Chinese developers built 100 billion square feet of residential real estate. This boom has been accompanied by a large increase in the number of vacant homes, held by both developers and households. This boom may turn out to be a housing bubble followed by a crash, yet that future is far from certain. The demand for real estate in China is so strong that current prices might be sustainable, especially given the sparse alternative investments for Chinese households, so long as the level of new supply is radically curtailed.Link

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